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LookBookHQ "From Lean to Machine: Building Scale at a Start-Up in Record Time"

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www.fullcircleinsights.com

Session by Elle Woulfe, VP of Marketing at LookBookHQ, during the Circulate 2016 conference (hosted by Full Circle Insights). Learn Elle's 5-part plan that includes:
1) Creating a lead management framework.
2) Re-architecting marketing and sales frameworks.
3) Creating a new messaging framework and designing a new website.
4) Develop the buyer's journey and content pillars.
5) Test and determine the optimal marketing mix.

April 11, 2016 @ the Circulate 2016 conference hosted by Full Circle Insights, a B2B marketing analytics and funnel metrics solution provider.

Published in: Marketing
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LookBookHQ "From Lean to Machine: Building Scale at a Start-Up in Record Time"

  1. 1. From Lean to Machine: Building Scale at a Start- Up in Record Time Elle Woulfe VP of Marketing April 11, 2016
  2. 2. The Trouble with Cooking for Chefs Hi, I’m Elle! – Director of Marketing Programs, Eloqua – Sr. Director of Demand Generation, Lattice Engines – VP of Marketing, LookBookHQ – Two-time Full Circle Insights Customer – Serial #MKTGnerd
  3. 3. Content marketing automation Omni-channel content orchestration Post-click engagement analytics Automated content sequences
  4. 4. Two Flavors of Full Circle Deployments
  5. 5. Major Hurdles… 99% Outbound Sales Process Messy Infrastructure & Integrations ZERO Documentation Limited Skills & Resources Very High Expectations
  6. 6. THE REVENUE ENGINE What I Want to Build… Repeatable, unified processes & integrated systems lead routing campaign management lead scoring lead nurturing data management reporting & measurement
  7. 7. What I’m Used to Having Skills, resources and budget
  8. 8. What I Actually Have…
  9. 9. Questions I Can’t Answer… • Are any of our marketing investments paying off? • How long does it take to book a meeting or close a deal? • Which BDRs are most effective at booking meetings? • Where do all our disqualified leads and opportunities go? • How much pipeline do we really have? MURKY
  10. 10. Oh, and by the way….
  11. 11. One Audacious Goal Transform our approach to selling From primarily outbound - BDR-driven - Cold calling To at least 50% “inbound” - Marketing-driven - Lead qualification
  12. 12. My 5 Part Plan… No Problem! 1. Demand Funnel: Create a lead management framework 2. Technology Optimization: Re-architect marketing & sales infrastructure 3. Messaging: Create a new messaging framework & design a new website 4. Buyer’s Journey: Develop content pillars & fill gaps in the buyer’s journey 5. Fill the Funnel: Test some stuff & determine the ideal marketing mix FOCUS
  13. 13. My Team MATT STEVE MERE CHRIS Priority #1
  14. 14. Tail Wagging the Dog? CHRIS
  15. 15. A Big Leap of Faith aka - Rip Off the Band-Aid • Clean slate! • Informed lead & campaign management decisions • Re-built SFDC integration • Documentation & clarity • Empowered users Marketo Migration
  16. 16. Original “Process” The World’s Flattest Funnel Lead / Cold Call Opportunity Accepted/Rejected Pipeline Any Demographic/Activity Basic Demographic Fit Discovery Meeting Scheduled Discovery Meeting Successful Some Next Step Scheduled
  17. 17. New Funnel Definitions Simple, Streamlined, Small Changes MQL / SGL SAL SQL SQO Min. Score = 50 Target Account = Active Effort Lead is Valid / BDR is Working Discovery Meeting Scheduled Successful Disco/Next Step/50% Op
  18. 18. Process Architecture Stuff We Needed to Change & Build MQL / SGL SAL SQL SQO Lead Scoring Target Accounts Sales Campaigns Lead & Contact Statuses Recycle / DQ Dispositions Disco Call Process First Owner Tracking Opportunity Stages Recycle / DQ Dispositions
  19. 19. Okay, Let’s Do This! Wha, wha, wha…
  20. 20. Start with the End in Mind
  21. 21. Immediate Insights! MQL / SGL SAL SQL SQO MQL Volumes / Sources Process Efficiency BDR Effectiveness Lead Quality & Scoring Calibration Lead Source Quality Campaign Influence / Pipeline Value AE Success Rates Lead Conversion Velocity BDR / Target Account Efficiency
  22. 22. L2R – Weekly Leadership Meeting What We Review: • Rolling 12-Week Funnel • Sales Progress • Sales Efficiency • Red Flags • Quarterly Roll Up WHO: CEO, Director of Sales, Director of Inside Sales WHAT: Weekly process and metrics review WHEN: Every Monday morning HOW: Marketing and sales diagnostic
  23. 23. Some Cool Stuff We’ve Learned Inbound vs. Outbound Performance Conversion: SQL – SQO Marketing vs. Sales Sourced Velocity: SQL – SQO Sales vs. Marketing Sourced Conversion: SQO – Active Pipe Sales vs. Marketing Sourced +15% 1/2 3X
  24. 24. V Validating Our Value Prop 2.4X More Likely to be Sales Ready LookBookHQ Analytics FMBs:
  25. 25. Tracking Fast Moving Buyers
  26. 26. Engagement Tracking in LBHQ Sales Readiness = HIGH Sales Readiness = MEDIUM Sales Readiness = LOW
  27. 27. Making Engagement Actionable Asset > Engagement Threshold > Lead Score
  28. 28. What Did We Learn? What Does it Mean? • FMB thresholds are too low – not capturing true intensity • FMB criteria must include some demographic component 20% of all MQLs exhibited FMB behavior 57% of all FMBs became MQLs 10% of all FMBs were Accepted by Sales 43% of FMBs Didn’t Enter the Funnel
  29. 29. Don’t Market Without a Net Better Living Through Better Reporting.
  30. 30. Lessons Learned / Keys to Success Include a “voice of sales” – not all the voices Position as a value add, not a massive change Resist the urge to over complicate and over deliberate Find an executive sponsor, keep them engaged, make it central to their lives Give to get… it’s not all about marketing but it is about all of marketing Don’t be the bottleneck… part time efforts get part time results
  31. 31. Questions?

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